Another bullish article on INBK

INBK is riding the secular online banking wave to rapidly grow deposit base as well as consumer and residential real estate loans.

INBK is rapidly growing commercial loans at the right time of business cycle. This will enable it to reap superior returns in the next few years.

INBK is well positioned for the rising-rate environment, with a huge base of variable rate loans, underutilized deposit base, and management track record in handling rising rate.

3Q14 will be the inflection point when revenue and net income growth returns. It will be followed by gangbuster growth in 4Q14 and FY15.

INBK has at least 70% upside by the end of 2015. It is trading at below book value while growing at 10 times the rate of peers.…


Disclosure: Mid-sized long position in INBK, no position (yet) in BOFI.